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Did you hear? Putting old operating systems on new, expensive gadgetry is all the rage. First up was that N95 running Windows 3.1 last week, and now they’ve gone and plopped System 7 (OS 7) onto an iPhone. It’s a beautiful pairing of new and old, like grabbing a piece of toast and applying butter that has been in your fridge for 18 years. Delicious.

Like the Windows 3.1 N95, the MacOS iPhone Project uses code from QEMU, an open source emulator built pretty much just for crazy stuff like this. They’re still tinkering away at it for now, but plan on releasing it in some form sooner or later. We’re going to go ahead and assume this one is for jailbreakers only.